Big Four consultants, what is your firm’s policy for this year on promotions, raises, bonuses, layoffs? At PwC there’s a freeze on raises, minimal promotions and smaller bonuses. Pay-cut for partners. No layoffs, at least in the near future.

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At EY, we just promoted a bunch of people this month, and leadership is saying that October promotions shouldn’t be affected. No bonuses, and all other comp decisions are very TBD. I’ve heard speculation that there will be raises, a freeze, and pay cuts from different people. Layoffs start July 1

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Apologies “performance separations” start July 1. Which is very likely going to include layoffs hidden as performance issues

My crystal ball says that you will see fewer Deloitte people posting in these bowls over the next couple of months.

Hmm - considering the numerous hot takes from Deloitte folks, that might actually be a good thing

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Remains to be seen but the messaging was not “minimal promotion” apparently promoting at similar rates as in the past, including partnership

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Agreed- promotion numbers were the same for our CRT.

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You probably already know about the announced layoffs at Deloitte... TBD in the rest

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End of August / early Sep

At KPMG, no bonuses and rumor mill says smaller raises, no planned layoffs at this point.

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All the firms will be smaller in September than they are today - call it a layoff, call it performance related. The market dictates how many external advisors are required.

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